How To Avoid Getting Scammed When Selling To A We Buy Houses Company

A lot of people need to sell their house fast. Many times they see the signs on the sides of the road that say “we buy houses”. The problem is there are may of these companies that are trying to scam you. So how do you know your are dealing with a real company and one that isn’t trying to take advantage of you? Keep reading to learn how.

Finding A Legitimate We Buy Houses Company

You may be tempted to call one of those signs on the side of the road. This may be a red flag right off the bat. In many cities these signs which are called “bandit signs” are illegal. So what does that say about the company itself. Also, this may also be someone that is fresh out of some guru’s seminar that is trying to get into real estate investing. Almost all of these guru’s tell people to start putting out these signs to start getting leads.

We found an interesting article on Blogger that has more to say on these bandit signs:

You have probably seen all of the signs on the side of the road “We Buy Houses”. But how do you know if that company is really legit? The first thing – is it a hand written sign? If so, if they don’t have the money to pay for a nice custom sign do they really have the money to buy your house??

Do An Internet Search

Can you easily find them on the web? After you call one of those we buy houses signs and get their information, do yourself a favor and Google them. Do they have a website? Can you find who the owners are of the company? If not, you may want to think twice about using them.

They make a good point about the hand written signs as well as performing and internet search for the company. Searching them out on the web and finding reviews about the company is probably one of the best things you can do to find out if you are dealing with a legitimate company or not.

Knowing A Legitimate Company

So how do you know if you are actually dealing with a legitimate company and aren’t being scammed? Besides researching them on the internet, here are some additional good tips:

Check Out the Buyer

If you have any concerns about the buyer, don’t hesitate to check them out. Contact your state Attorney General’s office, your state’s Real Estate Commission, or your District Attorney’s Consumer Fraud Unit. If they are an established business, also check out the Better Business Bureau.

Always Understand What You’re Signing

Not asking questions because you are afraid of looking stupid could end up costing you tens of thousands of dollars or more if you end up in a deal that wasn’t what you thought it was. A lawyer or even your mortgage company can help you if you want professional advice from a third party. Never, ever sign a contract that you don’t understand.

Get All Agreements in Writing

If a disagreement arises about a verbal agreement, the issue becomes your word against theirs and often must go to a court of law to be settled. Don’t risk that. Insist that all terms be in writing, and don’t agree to anything that isn’t.

Knowing what you are signing as well as making sure that you have a written agreement is important. Under no circumstances should you ever just accept any verbal offers without something written down. Without a written contract your house really isn’t sold. You may want to have an attorney look over the document as well if you are in a state that does not require closing with an attorney.

Conclusion

If you have to sell your home now and don’t have time to wait for a buyer, there are legitimate we buy houses companies out there. Do your homework and research the company online, make sure you have a written contract and have your attorney review the document and you should be able to avoid being scammed.